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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7436. (Read 26731203 times)

legendary
Activity: 2938
Merit: 1951
In order to dump coins one must have coins
Your turn. What is the definition of decentralization to which you adhere, DaRude? Hmmm?

Riiiight, that's just you bitching about nodes, still not seeing you defining decentralization, and criteria that you used to come to conclusion that BTC and BSv are as decentralized? Surely you're not just putting out claims without backing them up  Roll Eyes

Still dodging, eh? Nothing to offer?

Huh, YOU claimed that both coins are equally decentralized, i asked for you to back it up, and you're asking me to define decentralization?



FWIW, what I think jbreher is saying, is that BTC and BSV can both potentially be equally decentralized. In other words, the algorithms themselves allow for the same amount of decentralization.

Bingo. From a technical perspective, they are equally decentralized. The only difference in decentralization between the two is the current popularity of each.

If those are the vapors upon which you wish to hoist your flag, so be it.

Of course, the next layer of the discussion is 'how much decentralization is meaningful'? Then 'what aspects are important to be decentralized'? Followed by 'what concrete goals do the intermediate objective of decentralization serve'? But shieeeeit - we can't even agree on what decentralization even means, because those who scream it loudest refuse to admit they don't have a concrete definition thereof.

Ahh and there we have it. So following your logic and your definition of decentralization, BTC is as decentralized as BCD (Bitcoin Diamond)? And you expect us to take you seriously? Look i just created jbreher_shitcoin, and in its first second of existence, from a technical perspective, it's already as decetralized as BTC, or so i can claim to sound impressive when trying to offload it on noobs, would you like to buy some?? Way to waste everyone's time here.


...
jbreher's angle is to lure noobs in by digging up some obscure definitions and extrapolating them to a point of absurdity, then when no one wants to waste time debating him that the world isn\t flat he thinks he wins  Huh
...
legendary
Activity: 2242
Merit: 3523
Flippin' burgers since 1163.
https://twitter.com/digitaliknet/status/1285455790510428160
Quote
Current price is about 47% of the previous ATH.

After previous halving in 2016 price was around $570 which is around 45% of previous ATH.
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
Smithsonian Institution Explains that 'Rationality' & 'Hard Work' are Racist

Quote
What are these sinister aspects of “white culture,” you ask? Well, according to the Smithsonian, values like “hard work,” “self-reliance,” “be[ing] polite,” and timeliness are all a product of the “white dominant culture.” Indeed, it turns out that conventional grammar, Christianity, the notion that “intent counts” in courts of law, and the scientific method and its emphasis on “objective, rational linear thinking” are all proprietary to “white culture.”

Gag me with a maggot.
legendary
Activity: 1722
Merit: 2213
Good afternoon WO!
A boring observation of $9,166



Are you saying that Bitcoin finally is stable. 😜

I guess technically yes I was, but that it's about to get unstable again quite quickly  Tongue
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
Fully rotten to the core. After getting fired for not backing down on a case against a fraudulent ophthalmologist who was billing the insurance plan for botox done on her crooked doctor pals, it took me one final job working for a vastly overpricing specialty drug insurance company before I said "that's it, I'd rather die than do this for another day," and I switched to self-employment afterward.

It hasn't been a cakewalk but I'm happy knowing I will never step foot in a cubicle ever again, working for completely corrupted fuckheads who value money over human life.

Respect, dude. Begrudging (as you can well imagine), but respect nonetheless.
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
The changes BSV makes to the protocol will inevitably centralize the protocol,

You'll need to be more specific. Which changes exactly are you speaking of?

I certainly hope we are not headed down some semantic rabbit hole about who changed what... but...

The most obvious change.  They have taken the big block ethos to it's end.  They did not only lift block size limitations, but the community has been building applications and uses that encourage as much use of the blockchain as possible.  


Well, there is that, aye.

Perhaps it is in the nature of a semantic rabbit hole, but your use of the future tense for a past enhancement threw me off track. I thought you were referring to some nebulous future changes.

Quote
They ridicule the BTC camp for it's Raspberry Pi nodes and have embraced the idea that nodes (which for them are de facto miners) will be big server farms pushing the boundaries of storage space, network bandwidth and computational resources.

Well, yes. I get that many think that huge numbers of non-mining fully-validating clients bring security to the system. I just find such notions delusional.

In the end, the entities with the power are the entities with the most to lose - the miners. The thing that keeps the miners from acting nefarious is the threat of users -- measured by economic power, not by a numerical count of trivially sybillable validators -- abandoning their generated chain en masse. Which is the brilliant design left us by satoshi.

And even if non-mining validators _actually_ held any power: Why would we want to artificially constrain the potentially world-changing power of this network to a lowest common denominator of irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement? The notion is pure folly.
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
I was gonna kick that fuckers ass but I could never catch him in the parking lot so I got sick of driving out of my way and just did the windshield.

I am so glad that you exercised self-restraint to "only" perform property rather than bodily damage upon the guy, even if such "self-constraint" was because you did not have enough staying power to continue to stalk the poor incompetent, and perhaps corrupt, fella.    Lips sealed Lips sealed

Dick head deserved an attitude adjustment.
legendary
Activity: 3962
Merit: 11519
Self-Custody is a right. Say no to"Non-custodial"
I was gonna kick that fuckers ass but I could never catch him in the parking lot so I got sick of driving out of my way and just did the windshield.

I am so glad that you exercised self-restraint to "only" perform property rather than bodily damage upon the guy, even if such "self-constraint" was because you did not have enough staying power to continue to stalk the poor incompetent, and perhaps corrupt, fella.    Lips sealed Lips sealed
legendary
Activity: 2660
Merit: 2868
Shitcoin Minimalist
Smithsonian Institution Explains that 'Rationality' & 'Hard Work' are Racist

Quote
What are these sinister aspects of “white culture,” you ask? Well, according to the Smithsonian, values like “hard work,” “self-reliance,” “be[ing] polite,” and timeliness are all a product of the “white dominant culture.” Indeed, it turns out that conventional grammar, Christianity, the notion that “intent counts” in courts of law, and the scientific method and its emphasis on “objective, rational linear thinking” are all proprietary to “white culture.”
sr. member
Activity: 378
Merit: 889
WO gentlemen,

I've been off-grid for the past week, on a fishing trip way out of nowhere. I've had no internet/phone service during that time. Fuck, I'd hope to come back to some price action, but it still seems we're grindning around 9k. Boring. Dissapointing.

Anyway, back to my fishing trip. It's been been quite a stress-reliver to be honest. No-one can reach you - I can't reach no-one. It kind of remind me of my youth. I guess anyone of you 35+ y.o. can relate. The age before internet and cell phones.





During this time I also recieved a new offer from Fortress, wanting to buy my claim from the MtGox Trustee. Let me quote (I've edited out names and numbers).

Quote
Dear xxxxx xxxxxx,

The Mt Gox Trustee published a Civil Rehabilitation plan on March 24, 2020 which described potential future distributions for Mt Gox creditors. Due to the Covid-19 pandemic, the court subsequently delayed proceedings. The Trustee’s plan could take several years before making a distribution to creditors who lost BTC on Mt Gox, because the Trustee’s plan does not commit to a BTC distribution until CoinLab’s litigation is resolved. The Japanese court system was closed due to Covid-19, and our attorneys estimate it may take 3-5 more years for CoinLab’s litigation to reach a conclusion (including appeals).

Due to these delays, many creditors have expressed a desire to get back their lost BTC. We are now offering a way for creditors to sell us their claim and receive BTC as payment. The amount of BTC you will receive is based on the amount of BTC the Trustee is currently holding for your account:

  • The Trustee currently holds 141,686 BTC out of the 950,000 which were originally lost. This is a recovery ratio of 14.91% (click here to view full report from Mt Gox Trustee (https://www.mtgox.com/img/pdf/20191001_report.pdf)
  • You originally lost xxx.xx BTC, which means the Trustee is holding xx.xx BTC for your account to eventually be distributed after the Coinlab litigation is resolved.
  • We are offering to buy your claim for 90% of this amount, or xx.xx BTC. We can make payment in BTC to your wallet address at a reputable exchange of your choice.
  • If you prefer to be paid in cash, your purchase price would be $xxx,xxx, payable in your local fiat currency via wire transfer to your bank account
·       
This offer to buy your claim and make payment of xx.xx BTC or $xxx,xxx is valid only until our funding is fully allocated. Please respond as soon as possible if you would like to receive a claim transfer contract.

What they fail mention is that the Trustee is also holding a shitload of fiat, which is supposed to be fairly shared among all the creditors. My understanding is that your BTC claim is worth 0.18 BTC, 0.18 BCH, plus $440 per BTC claimed.

Let say you had 1 BTC claimed. That means according to https://www.ozcoin.com.au/index.php your claim is worth $2,150. Fortress is offering 14.91% which is (9300 * 0.1491) = $1,394. That means Fortress is paying (1394/2150) = 65% of your claim.

Thank you Fortress, that's a decent offer. But not quite the 90% you are claiming you're offering. Anyway, I've waited 6 years for any pay-out, I guess I can wait a few years more.

It doesn't matter though. My bags are full for the next bull run, bring it on.
legendary
Activity: 1869
Merit: 5781
Neighborhood Shenanigans Dispenser
legendary
Activity: 2660
Merit: 1002
fly or die
Finally some movement yesterday, but let's just say my trading isn't paying the bills at the moment !

I agree that this is probable, but the question arises..when will it stop? Never? Are we at a verge of basic income and MMT?
Too much resistance to those ideas, so it is unlikely to happen. However, passing every 6 mo a 2-3 trillion bill does not seem likely either.
At the moment, it is clearly gold and high beta stocks that benefit the most. Bitcoin is not in play and I wonder why. maybe because it was in a deep correction for too long and lost its appeal with the fast money. It could be temporary, though. At least, this is my hope, but the whole apple-cart is upside down.

If the trend described below is true, then we would have a deflationary impulse as well:
https://www.politico.com/news/2020/07/19/wage-cuts-economy-crisis-368508

Basically stock market speculators (in the US) have a free ride. The market goes up they win, the market goes down the Fed and congress put more money into it so it goes up again. They can't lose. With BTC, you can lose.
That is until they don’t, it is true that what you describe has been the norm during the last decades but at some point it will be impossible to maintain the system as it is and even those that believed they could privatize profits and socialize losses will find out this cannot last forever.

I really think the current pandemic has accelerated this process and while I don't wish to see such a huge crisis in my lifetime I’m convinced this is inevitable and taking precautions for that day is the only thing I can do, and as you may guess holding some bitcoin is part of my preparations, and while some may complain about the sideways movement of bitcoin this is great for anyone looking to increase their stash.

I think it can still last a long time but we'll see, look at the EU, it will borrow money to spend it on "stuff" for the first time, certainly not the last.

It doesn't hurt to be prepared, I'm looking at houses with large plots of arable land to make some fruits and vegs, and allow for more production if needed (cereals, poultry, rabbits...). Having useful skills and train for new ones, too.

I can feel some sympathy and even agree with some people that think the current system is unjust, but if they're not doing something about it, or to at least improve their own situation, that sympathy only goes so far. Whining is not a plan.
legendary
Activity: 3920
Merit: 5565
Note the unconventional cAPITALIZATION!
legendary
Activity: 1869
Merit: 5781
Neighborhood Shenanigans Dispenser
member
Activity: 256
Merit: 62
The US dollar is about to break 10 year support.

Come on Bitcoin, the time is now!!!!! Grin

How so? 10 year support is around 73-74 and we are at 95 in DXY.
maybe you are talking about 1 year support?
Oops I meant the trend line running since 2011. There is support all over the place but if it falls below the trend line, I think its heading toward a long term bear market. The last bear market for US dollar lasted 7 years between 2001-2008.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
... something big is in the wind, gold, silver, oil popping and US$ taking a dive.

... if btc can't catch a bid here and break free higher it is well and truly under control.
legendary
Activity: 4004
Merit: 4656
The US dollar is about to break 10 year support.

Come on Bitcoin, the time is now!!!!! Grin

How so? 10 year support is around 75 (EDIT: corrected from 73-74) and we are at 95 in DXY.
maybe you are talking about 1 year support?
legendary
Activity: 3220
Merit: 2334
I fix broken miners. And make holes in teeth :-)
That said, in this time where social media or biased media are now the main sources of 'accepted truth', real truth is a rare commodity; claimed by many, actually spoken by few.

Just remember: "Accepted truth" can make you feel good. "Real truth" can kill you.
member
Activity: 256
Merit: 62
The US dollar is about to break 10 year support.

Come on Bitcoin, the time is now!!!!! Grin
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